BDO said in a statement it has commenced an assessment of the financial position of Vincent Aviation (Australia) to assess its future viability and will work with management and major stakeholders and regulators during the process.

The company is wholly owned by New Zealand-based Vincent Aviation Limited and has satellite bases in Brisbane and Sydney.

The Australian company operates nine medium-sized turbo prop passenger aircraft including Beechcraft 1900s and SAAB 340s, and employs approximately 80 staff.

Mr Fielding said a range of factors, particularly market conditions, had contributed to the current situation facing the company.

“The prudent step was taken by the company’s management to cease trading to enhance the recoveries to all creditors. The company has cancelled all flights and customers should make alternative travel arrangements,” he said.

Comments on this story

Greg of Karama of Karama Posted at 6:06 PM June 01, 2014

Vincent was always good to fly with. In my previous job at a remote Tanami site, they offered good service (replacement service due to the normal provider having various issues). Sad to see them go under, but a business model is a business model and no profit means failure. Always felt safe with them, but no government prop up should be given. Economics 101.

Phil McCracken of Perth Posted at 10:38 PM May 29, 2014

Keen to see how the tans-Tasman arrangements work in reverse now. NZ operator favouring employment of NZ crew has failed...guess the expectation is the Aussie taxpayer will stump up for the unpaid entitlements while the same operator continues to run a "profitable" business in NZ.